Which Licensing Examination for Securities and Futures Intermediaries exam paper should I partake in?

July 26, 2021

 

If you want to work in the front line of the securities industry, you have a good chance of needing to take The Licensing Examination for Securities and Futures Intermediaries. As for what test papers you need to take, first of all, you need to know that the number of the exam paper has nothing to do with the number of the regulated activity! After that, you can check if you meet certain conditions to be exempt from specific exam paper combinations of HKSI LE.

 

For exemption information, please refer to the exemption of Hong Kong Securities and Investment Institute (HKSI) Qualifying Examination HKSI Paper 7,8,9,11,12’s Common Misunderstandings

 

If you want to earn commissions for buying and selling stocks and other securities on behalf of clients, which paper should you take?

 

Securities trading institutions such as securities firms or banks collect commissions from clients to buy or sell securities on behalf of clients. Those institutions will trade stocks and bonds in the Hong Kong market, US marketand other markets like Japan, Taiwan and Mainland China, such as iBonds. These regulated activities need to be carried out by a Type 1 license holder. Besides trading, a person who holds a type 1 license can also be introducing agents or perform other duties.

If you have no industry experience and want to engage in Type 1 activities, you need to take HKSI LE Papers 1, 7, 8.

If you want to become a Type 1 RO, you need to take HKSI LE Papers 1, 2.

 

Which paper should you take if you want to earn commissions from trading futures options contracts for clients?

 

Buying or selling derivatives such as futures contracts or options and collect commissions from clients including trading commodity futures, metal futures, Hang Seng Index futures, interest rate futures, stock futures, foreign exchange futures, stock call or put options, etc, are type 2 regulated activities that are only eligible to be performed by a type 2 licensee. If you have no industry experience and want to engage in Type 2 activities, you need to take HKSI LE Papers 1, 7, 9.

If you want to become a Type 2 RO, you need to take HKSI LE Papers 1, 3.

 

 

If you want to earn commissions for trading leveraged foreign exchange on clients’ behalf, which exam should you take?

 

Buying or selling leveraged foreign exchange products and collecting commissions from clients is a Type 3 regulated activity. Type 3 license holders are required to carry out such activities. If you want to engage in Type 3 activities, you do not need to take any HKSI LE Paper, but instead a leveraged foreign exchange trading exam is required.

 

If you want to charge a fee to provide clients with advice on buying and selling securities (such as stocks), which paper should you partake in?

 

Providing clients with advice on buying and selling securities (such as stocks, bonds) and charging for this are Type 4 activities, and Type 4 license holders are required to carry out such activities.If you have no industry experience and want to engage in Type 4 activities, you need to take HKSI LE Papers 1, 7, 8.

If you want to become a Type 4 RO, you need to take HKSI LE Papers 1, 2.

 

If you want to charge a fee to provide clients with advice on trading futures and options, which paper should be taken?

 

Providing clients with advice on the trading of futures and options and other derivatives and charging for this is a Type 5 activity, and are required to carry out such activities by Type 5 license holders.

If you have no industry experience and want to engage in Type 5 activities, you need to take HKSI LE Papers 1, 7, 9.

If you want to become a Type 5 RO, you need to take HKSI LE Papers 1, 3.

 

 

If you want to raise funds for a financial organisation, which paper should you partake in?

 

If you want to conduct corporate finance activities and design different ways to raise capital for the company, you need to hold a Type 6 license. 

If you have no industry experience and want to engage in Type 6 activities, you need to take HKSI LE Papers 1, 7, 11.

If you want to become a Type 6 RO, you need to take HKSI LE Papers 1, 5.

 

If you want to operate automated trading systems (such as black pool and virtual currency) which paper should I partake in?

 

If you wish to engage in dark pool trading (also known as alternative share trading platforms or “liquidity pools”), or any online trading platform and futures that are approved by the Securities and Futures Commission and the platform offers trading services of one or more virtual assets (also known as “cryptocurrency”, “cryptographic assets”, “virtual currency” or “digital tokens”), you should apply to become a licensee for Type 7 activities.

If you want to engage in Type 7 activities, you do not need to take any HKSI LE exams But usually you don’t solely have this type of license, therefore in order to obtain other types of license, you still need to partake in other exams. 

 

 

If you want to provide securities margin financing, which paper should I partake in? 

 

In order to provide clients with securities margin financing services, unless other activities are wholly incidental activities, you should apply to become a licensee of Type 8 activities.

If you have no industry experience and want to engage in Type 8 activities, you need to take HKSI LE Papers 1, 7, 8.

If you want to become a Type 8 RO, you need to take HKSI LE Papers 1, 2.

 

If you want to run an asset management business (such as managing funds, discretionary accounts), which exam should I take?

 

If you want to operate an asset management business, such as managing fund portfolios, managing discretionary accounts, etc., you should apply to become a licensee for Type 9 activities.

If you have no industry experience and want to engage in Type 9 activities, you need to take HKSI LE Papers 1, 7, 12.

If you want to become a Type 9 RO, you need to take HKSI LE Papers 1, 6.

 

How can we help?

2CExam provides HKSI LE, IIQE, EAQE and SQE related exam preparation materials. We sell mock question banks for HKSI LE Papers 1, 2, 3, 5, 6, 7, 8, 9, 11, 12 in Chinese and English; and bibles for HKSI LE Papers 1, 2, 6, 7, 8 in Chinese. We also offer 1 on 1 tutorial services. Besides, we have also made free tutorial videos for HKSI LE Papers 1, 2, 6, 7, 8, 11, 12 and posted them on public channels such as Youtube/ Bilibili/ Tencent/ Iqiyi. 2CExam has been an exam training expert for years. Should you need any help please visit www.2cexam.com or contact us through:

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